NEW YORK, June 3, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of FEI Company ("FEIC" or the "Company") in connection with the proposed acquisition of the Company by Thermo Fisher Scientific Inc. ("Thermo Fisher"). On May 27, 2016, the Company announced it had reached a definitive agreement for Thermo Fisher to acquire all outstanding shares of FEIC for $107.50 in cash for each share of Company common stock.
WeissLaw is investigating whether FEIC's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the transaction values FEIC below its 52-week high of $108.35. Additionally, the Company recently announced positive financial results in the first quarter of 2016. The Company reported first quarter revenue of $229 million, up 3.5% compared with $221 million for the first quarter of 2015. It enjoyed record first quarter bookings of $272 million and a backlog of $656 million. During the quarter, the Company paid cash dividends of $12 million, invested $6.1 million in plant and equipment and repurchased 12,599 shares of its common stock.
Given these facts, WeissLaw is investigating whether FEIC's Board acted in the best interests of FEIC's public shareholders to maximize shareholder value prior to entering into the agreement. If you own FEIC shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP